pharma, Biotech, Life Sciences

Acceleron Doubles Lab Space, Ramps Up Hiring

Wade Roush 6/16/08

Last October Acceleron Pharmaceuticals of Cambridge, MA, said it had completed a $31 million Series C funding round, bringing the bone-and-muscle-growth company’s total venture funding to an impressive $86 million over three rounds. Now we know what the company’s been spending the money on: Acceleron announced today that it’s increased head count by 40 percent and doubled the size of its administrative, laboratory, and manufacturing facilities in Cambridge. The company says it expects to begin Phase 2a clinical trials of ACE-011, a drug designed to help multiple myeloma patients rebuild bone mass, later this year.